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Publication date: 14 May 2024

Western European HCP Shipments Declined 20.6% Year on Year in Q1 2024 Due to Market Maturity, Says IDC's Latest Tracker

LONDON, May 14, 2024 β€” According to the Quarterly Hardcopy Peripherals Tracker Q1 2024 published by International Data Corporation (IDC), shipments of hardcopy peripherals (HCP) in Western Europe (WE) experienced a year-on-year decline of 20.6% to 3.3 million units in Q1 2024. Although supply chain issues have been resolved, and the overall availability of HCP has returned to normal, the maturity of the HCP market is evident in the decline observed in WE. Nevertheless, the situation tends to vary depending on the country and brand.

In Q1 2024, MFP shipments posted a unit decline of 20.7% year on year, while printer shipments declined by 19.8%. Laser shipments decreased by 19.6%, and inkjet devices recorded a decline of 21.1%, primarily influenced by economic uncertainty. With the advancement of digitization initiatives and the widespread adoption of paperless services in both private and public sectors, the demand for home printing has dwindled. The increasing use of online applications has contributed to this decline.

β€œIn a mature market like Western Europe, any economic impact tends to decrease printing volumes. Strategies aimed at reducing paper usage are leading to a decline in printing, and organizations are buying fewer devices. The heightened awareness of environmental impact discourages the use of printing and paper in Western Europe,” says Julio Vial, research manager with the Imaging Printing and Document Solutions team at IDC.

In Q1 2024, HP remained the top market leader with a share of 37.4%. Brother has seen an increase in its market share to 12.1%, while Canon and Epson have maintained their market shares despite declining shipments.

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International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world's leading tech media, data, and marketing services company. To learn more about IDC, please visit Follow IDC on X at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.